Lab Weekly - 01/28/2022
What marketers can learn from Wordle; Plus, news analysis and cool stats roundup
Five Lessons that Marketers Can Learn from Wordle
From universal accessibility to spoiler-free sharing, Wordle’s viral success is a masterclass in cutting through the noise
IPG Media Lab and MAGNA Global Introduce the Innovation Velocity Gauge
Our jointly created Innovation measurement index shows which sectors are booming—and which are stagnant. Read more on AdAge.
In case you missed it…
Outlook 2022: Embracing Entropy
“Over the next three to five years, the most reliable prediction will be disorder, with multiple possibilities happening at once,” writes Adam Simon, UM Worldwide's US Head of Innovation, in our 2022 Outlook trend report. Read now to learn the four key trends in consumer tech and culture that all brands and marketers will need to reckon over the next 3 to 5 years.
Peacock Streaming Service Expands With 24/7 Local News Channels [9to5Mac]
Since its tepid debut in July 2020, Peacock has so far amassed a respectable 9 million paying subscribers, and NBC has recently unveiled a more aggressive spending strategy in converting free users into paying subscribers. In tandem with that plan, it is also expanding its live news content by creating around-the-clock news content from local affiliate stations, in hope of attracting more OTT viewers and cord-cutters to give it a try.
The AVOD market continues to grow, with Insider Intelligence forecasting ad-supported streaming services to reach over 58% of U.S. connected TV viewers in 2022. To reach a growing population of cord-cutters and cord-nevers, ad buyers and brands will increasingly need to supplement their TV ad campaigns with OTT video inventory. And that inventory is precisely what Peacock is trying to increase with this addition.
Related: Peacock reveals its strategy for winning subscribers: spend, spend, spend [The Verge]; Tubi adds 10 live sports channels to boost programming lineup [AdWeek]; Roku adds a new ‘Live TV Zone’ to its home screen [TechCrunch]
Warner Music Group Is Launching A Metaverse Concert Hall [The Verge]
Warner Music Group (WMG) has announced its plan to secure a home base in The Sandbox, an Ethereum-based metaverse and gaming ecosystem. Billed as a “combination of musical theme park and concert venue,” this metaverse outpost will presumably serve as a virtual venue for WMG artists to perform virtual concerts and design immersive experiences to engage with their fans.
In true web3 fashion, however, WMG has disclosed little of the type of experiences it is planning to put out in the metaverse; instead, the company was focused on a special sale of digital real estate called Land, which Sandbox users can buy “coveted” plots of in March. While it is true that metaverse will be created collaboratively with the fans, hoping music buffs to express their fandom by acquiring virtual property adjacent to one record label does not seem like the right starting move. If WMG were to be serious about getting into the metaverse space, perhaps it should focus on creating undeniable, must-see musical experiences in Sandbox that can draw more fans to the obscure platform first.
Related: AMC wants to turn its movie theaters into virtual concert venues [PYMNTS]; Roblox signs music partnership with Sony [The Verge]; Roblox launches ‘Listening Parties’ feature for acts to debut new albums [NME]
Nextech AR Launches Shopify App For 3D Model Making [AP News]
Shopify’s arsenal of creative tools for brands continues to grow, cementing its leading position as the one-stop ecommerce solution provider that could help small businesses set up shops without defaulting to Amazon. With this latest app created by AR startup Nextech, Shopify merchants easily create 3D models of their products and make them ready for deployment in AR try-on experiences that are becoming popular among online shoppers. A 2021 report by Snap found that 56% of online shoppers say they believe AR gives them more confidence about product quality. Around 50% also said they were willing to use AR to assess products via a try-before-you-buy experience. If your brand still doesn't have an AR strategy, now is time to develop one.
Related: JD partners with Shopify to help US merchants sell in China [AP News]; Google is building a new AR headset [The Verge]
During Apple’s holiday quarter earnings call, CEO Tim Cook gave an update on how many Apple devices are active around the world. The latest installed base is a massive 1.8 billion and if Apple can see a bit more growth than the last couple of years, it could surpass 2 billion active devices this year. Apple als disclosed that it has hit 785 million subscriptions, but that number includes both Apple’s own services and third-party services.
According to a recent study by ChainAnalysis, as reported by the Financial Times, NFTs have introduced a huge number of retail investors to the crypto world, with small transactions of under $10,000 accounting for more than 75% of the market. But much like the market for cryptocurrencies, it remains dominated by a few large players, or “whales.” About 9% of NFT owners held 80% of the value of the market transaction in 2021, Chainalysis found.
New research shows young people want more virtual shopping experiences from brands. According to a study by Obsess, an ecommerce platform that helps brands build and launch virtual stores, 75% of 16-24-year-olds have purchased a digital item within a video game while 60% say brands should sell their products on metaverse platforms.
If you find our insights valuable and would like to have a deeper conversation on technology and media innovations, or need to sound smarter in a client meeting or a pitch, please feel free to reach out to our Group Director Josh Mallalieu!
If you liked this edition of Lab Weekly by IPG Media Lab, why not share it?